The U.K. Bribery Act went into effect July 1, and companies are on alert—waiting to see how strictly the rules will be enforced.

Similar to the U.S.’s Foreign Corrupt Practices Act (FCPA), the Bribery Act bans any company affiliated with Britain from paying bribes. Some experts believe the Bribery Act will be far more strict than the FCPA as well as have a far-reaching impact.

Look for more on the U.K.’s Bribery Act in the August issue of InsideCounsel, as well as on the Wall Street Journal’s legal blog.